Hoover's Online Report Builder
Wal−Mart Stores, Inc. (NYSE: WMT)
Copyright 2004, Hoover's, Inc.
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
Table of Contents
The Basics...............................................................................................................................................................................1
Key Numbers.............................................................................................................................................................1
Financial Overview....................................................................................................................................................1
Officers & Employees................................................................................................................................................2
Board Members..........................................................................................................................................................4
Industry Information..................................................................................................................................................5
SIC Codes...................................................................................................................................................................5
NAICS Codes.............................................................................................................................................................5
Top Competitors.........................................................................................................................................................6
All Competitors..........................................................................................................................................................6
Rankings.....................................................................................................................................................................6
Subsidiaries/Affiliates Covered By Hoover's Online.................................................................................................7
Biographies............................................................................................................................................................................8
S. Robson Walton, Age 58........................................................................................................................................8
H. Lee Scott Jr., Age 54............................................................................................................................................8
Thomas M. (Tom) Coughlin, Age 54........................................................................................................................8
Michael T. Duke, Age 53..........................................................................................................................................9
Thomas D. Hyde, Age 54..........................................................................................................................................9
John B. Menzer, Age 52..........................................................................................................................................10
Coleman H. Peterson...............................................................................................................................................10
Thomas M. (Tom) Schoewe, Age 50......................................................................................................................10
Linda Dillman, Age 46............................................................................................................................................11
B. Kevin Turner, Age 37.........................................................................................................................................11
Rollin L. Ford..........................................................................................................................................................12
M. Susan Chambers, Age 46...................................................................................................................................12
Joseph J. (Jay) Fitzsimmons, Age 55......................................................................................................................12
Charles M. Holley Jr., Age 46.................................................................................................................................13
David Dible.............................................................................................................................................................13
Gregory E. (Greg) Spragg, Age 43.........................................................................................................................14
Don S. Harris, Age 46.............................................................................................................................................14
James H. (Jim) Haworth, Age 39............................................................................................................................14
Craig R. Herkert......................................................................................................................................................15
Robert (Bob) Connolly, Age 57..............................................................................................................................15
Doug Degn, Age 44.................................................................................................................................................16
Claire A. Watts........................................................................................................................................................16
C. Douglas (Doug) McMillon, Age 35...................................................................................................................16
James A. Walker Jr., Age 55...................................................................................................................................17
Greg B. Penner........................................................................................................................................................17
Tom Mars, Age 43..................................................................................................................................................17
Charlyn Jarrells Porter.............................................................................................................................................18
Jeff McAllister........................................................................................................................................................18
Gary Severson, Age 42...........................................................................................................................................18
Sue Oliver, Age 56..................................................................................................................................................18
Ester Silver−Parker.................................................................................................................................................19
Joe Hatfield.............................................................................................................................................................19
John Fleming, Age 44.............................................................................................................................................19
Mario Pilozzi, Age 55.............................................................................................................................................20
Vincent Trius...........................................................................................................................................................20
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Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
Table of Contents
Biographies
John Lewis..............................................................................................................................................................21
Timothy E. Coughlin...............................................................................................................................................21
Michael L. Grimm...................................................................................................................................................21
James W. (Jim) Breyer, Age 41..............................................................................................................................21
M. Michele Burns, Age 46......................................................................................................................................22
Overview..............................................................................................................................................................................23
History..................................................................................................................................................................................24
Products/Operations...........................................................................................................................................................26
Other Resources Available On Hoover's Online..............................................................................................................30
Other Resources.......................................................................................................................................................30
Related Products From Our Trusted Partners..........................................................................................................30
Annual Financials................................................................................................................................................................31
Quarterly Financials...........................................................................................................................................................33
Historical Financials & Employees....................................................................................................................................36
Market Data.........................................................................................................................................................................38
Comparison Data.................................................................................................................................................................39
Competitive Landscape.......................................................................................................................................................41
ii
The Basics
702 SW Eighth St.
Bentonville, AR 72716−8611 (Map)
http://www.walmartstores.com
Phone: 479−273−4000
Fax: 479−273−4053
Wal−Mart Stores is an irresistible (or at least unavoidable) retail force that has yet to meet any immovable objects. Bigger
than Carrefour, Royal Ahold, and Kroger combined, it is the world's #1 retailer, with about 4,800 stores, including some
1,475 discount stores, 1,750 combination discount and grocery stores (Wal−Mart Supercenters in the US and ASDA in the
UK), and 538 membership−only warehouse stores (SAM'S CLUB). Nearly 75% of its stores are in the US, but Wal−Mart
is expanding internationally; it is the #1 retailer in Canada and Mexico. It owns 36% of Japanese supermarket chain
SEIYU. Wal−Mart also has operations in South America, Asia, and Europe. Founder Sam Walton's heirs own about 38%
of Wal−Mart.
Key Numbers
Company Type
Public (NYSE: WMT)
Fiscal Year−End
January
2004 Sales (mil.)
$256,329.0
1−Year Sales Growth
4.8%
2004 Net Income (mil.)
$9,054.0
1−Year Net Income Growth
12.6%
2003 Employees
1,400,000
1−Year Employee Growth
1.2%
Auditor
Ernst & Young LLP
Financial Overview
Last Close 23−Mar−2004
$58.21
52−Week High
$61.31
52−Week Low
$50.50
Basic EPS
$2.07
Price/Earnings Ratio
28.12
Current Ratio
0.94
R&D Expense (mil.)
−−
Advertising Expense (mil.)
−−
% Owned by Institutions
36.20%
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Officers & Employees
Title
Name
Age
Salary
Bonus
Chairman
S. Robson Walton
58
President, CEO, and Director
H. Lee Scott Jr.
54
$1,142,308
$3,162,500
EVP and Vice Chairman,
Wal−Mart Stores Inc. (USA)
Thomas M. (Tom) Coughlin
54
$907,308
$2,287,500
EVP; President and CEO,
Wal−Mart Stores USA
Michael T. Duke
53
$530,385
$749,000
EVP, Legal and Corporate
Affairs, Secretary
Thomas D. Hyde
54
52
$759,231
$1,540,000
$579,615
$819,000
$321,154
$325,000
EVP; President and CEO,
John B. Menzer
Wal−Mart International Division
EVP, People Division
(Retiring from
Coleman H. Peterson
company effective April 30, 2004.)
EVP and CFO
Thomas M. (Tom) Schoewe
50
EVP and CIO
Linda Dillman
46
EVP; President and CEO SAM'S B. Kevin Turner
CLUB
37
EVP, Logistics and Supply Chain Rollin L. Ford
EVP, Risk Management, Benefits M. Susan Chambers
Administration, Aviation and
Travel
46
SVP, Finance and Treasurer
Joseph J. (Jay) Fitzsimmons
55
SVP and Controller
Charles M. Holley Jr.
46
EVP, Specialty Division
David Dible
EVP, Operations, SAM'S CLUB
Gregory E. (Greg) Spragg
43
EVP, General Merchandise
Don S. Harris
46
EVP Operations, Wal−Mart
Stores Division
James H. (Jim) Haworth
39
EVP and COO, Wal−Mart
International
Craig R. Herkert
EVP, Marketing and Consumer
Communications
Robert (Bob) Connolly
57
EVP; Food and Consumables
Merchandising
Doug Degn
44
(Retiring effective April 30, 2004)
EVP, Merchandising
(Named EVP of
Claire A. Watts
Merchandising effective April 30, 2004)
EVP, Merchandising, SAM'S
CLUB
C. Douglas (Doug) McMillon
35
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SVP and Controller
James A. Walker Jr.
SVP and CFO, Wal−Mart
International Holdings Japan
Greg B. Penner
SVP and General Counsel
Tom Mars
SVP, Chief Diversity Officer
Charlyn Jarrells Porter
SVP, Corporate Relations
Jay Allen
SVP; COO, Wal−Mart
International Holdings Japan
Jeff McAllister
SVP, General Merchandise
Manager, Hardlines
Gordon Erickson
SVP, General Merchandise
Manager, Hardlines
Gary Severson
SVP, General Merchandise
Manager, Home
Lois Mikita
SVP, General Merchandise
Manager, Women's and
Children's Apparel
Celia Clancy
SVP, Global Procurement
Ken Eaton
SVP, Optical Division
Ron Tiarks
SVP, People, Wal−Mart Stores,
USA (Named SVP, People effective April 5,
Sue Oliver
55
$211,861
$212,500
43
42
56
2004.)
SVP, Pharmacy
James (Jim) Martin
SVP, Wal−Mart Operations
Ed Kolodzieski
VP and Assistant Treasurer
Mike Cook
VP and Chief Legal Compliance
Officer
Tom Gean
41
VP and General Counsel
Allison Garrett
38
VP, Diversity Relations
Ester Silver−Parker
VP, Government Relations
Robert (Bob) McAdam
VP, International Corporate
Affairs
Ray Bracy
VP, Labor Relations
Terry Srsen
VP, People Development Group
Charles Baldwin
VP, Perishables
Bruce Peterson
VP, Pharmacy Division
Frank Segrave
VP, Pharmacy Operations
Ron Chomiuk
VP, Recruitment
Ramona Benson
VP, Wal−Mart Supercenters,
Meat, Seafood and Deli
Ken Parnell
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VP
Mona Williams
President and CEO, Wal−Mart
Asia
Joe Hatfield
President and CEO,
Wal−Mart.com
John Fleming
44
President and CEO, Wal−Mart
Canada
Mario Pilozzi
55
President, Wal−Mart Financial
Services
Jane J. Thompson
President, Wal−Mart Brazil
Vincent Trius
Managing Director, Wal−Mart
Germany
Kay Hafner
President, Wal−Mart Puerto
Rico
Bill Cahill
CFO, Wal−Mart International
John Lewis
COO, Wal−Mart Puerto Rico
Jose Revuelta
Director, Energy
Stan Green
Director, Global Travel
Duane Futch
Director, Managed Care,
Wal−Mart Pharmacy
Keith Cook
Director, Regional Loss
Prevention
Timothy E. Coughlin
Director, Risk Management
Rita Stephens
Director, Training
Oneil Clark
Senior Marketing Manager
Karen Sinning
Trading Director, Wal−Mart
Germany
David Wild
Mid−West Regional Manager,
Community Affairs
John Bisio
Home Entertainment
Merchandise Manager
David Porter
Manager, DVD Rentals
Matt Sevick
Merchandise Buyer
Michael L. Grimm
Wine Buyer
Bob Paulinski
Operations Coordinator,
Wal−Mart Supercenters
Cathy Bishop
$78,077
$18,864
$71,543
$17,170
38
Board Members
Title
Name
Age
Chairman
S. Robson Walton
58
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EVP and Vice Chairman,
Wal−Mart Stores Inc. (USA)
Thomas M. (Tom) Coughlin
54
President, CEO, and Director
H. Lee Scott Jr.
54
Director
James W. (Jim) Breyer
41
Director
M. Michele Burns
46
Director
Stanley C. Gault
78
Director
David D. Glass
67
Director
Roland A. Hernandez
46
Director
Dawn G. Lepore
49
Director
John D. Opie
Director
J. Paul Reason
62
Director
Jack C. Shewmaker
65
Director
Jose H. Villarreal
49
Director
John T. Walton
56
Industry Information
• Retail
♦ Discount & Variety Retail (primary)
◊ Warehouse Clubs & Superstores
♦ Drug Stores & Pharmacies
♦ Gasoline Retailers
♦ Grocery Retail
♦ Nonstore Retail
◊ Internet Retail
SIC Codes
5331
Variety stores
5399
Misc. general merchandise stores
5411
Grocery stores
5499
Miscellaneous food stores
5541
Gasoline service stations
5912
Drug stores and proprietary stores
NAICS Codes
445110
Supermarkets and Other Grocery (except Convenience) Stores
446110
Pharmacies and Drug Stores
447190
Other Gasoline Stations
452910
Warehouse Clubs and Supercenters
454111
Electronic Shopping
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Top Competitors
• Costco Wholesale
• Kmart
• Target
All Competitors
• Ace Hardware
• Albertson's
• Army and Air Force Exchange
• AutoZone
• Best Buy
• Big Lots
• BJs Wholesale Club
• Carrefour
• Cigarettes Cheaper
• CompUSA
• Costco Wholesale
• CVS
• Dollar General
• Eby−Brown
• Family Dollar Stores
• Home Depot
• Hudson's Bay
• J. C. Penney
• Katz Group
• Kmart
• Kroger
• Loblaw
• Lowe's
• Meijer
• METRO AG
• Office Depot
• Pep Boys
• Publix
• RadioShack
• Rite Aid
• Royal Ahold
• Safeway
• Sears
• Staples
• Target
• TJX
• Toys ''R'' Us
• TruServ
• Walgreen
Rankings
• #1 in FORTUNE 500
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• S&P 500
• Dow Jones Industrials
• Dow Jones Global Titans
• #4 in FT Global 500
Subsidiaries/Affiliates Covered By Hoover's Online
• ASDA Group Limited
• Bompreço S.A. Supermercados do Nordeste
• SAM'S CLUB
• Wal−Mart de México, S.A. de C.V.
• Wal−Mart.com USA, LLC
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Biographies
S. Robson Walton, Age 58
Chairman
Biography
Chairman of the Board of Wal−Mart. Member since 1978.
Source: Proxy, April 15, 2003
H. Lee Scott Jr., Age 54
President, CEO, and Director, $1,142,308 salary, $3,162,500 bonus
Recent Work Highlights
• Wal−Mart Stores, Inc.
♦ 2002: President, CEO, and Director, $1,123,077 salary, $1,784,750 bonus
Biography
H. Lee Scott, Jr. is President and Chief Executive Officer of Wal−Mart since January 2000. Prior to this appointment, he
has held various positions with Wal−Mart since September 1979, including: Vice Chairman and Chief Operating Officer,
from January 1999 to January 2000; and Executive Vice President, President and Chief Executive Officer, Wal−Mart
Stores Division, from January 1998 to January 1999. Mr. Scott has been a board member of Wal−Mart Stores since 1999.
Source: 10K, April 15, 2003
Thomas M. (Tom) Coughlin, Age 54
EVP and Vice Chairman, Wal−Mart Stores Inc. (USA), $907,308 salary, $2,287,500 bonus
Other Company Affiliations
Company
Title
ChoicePoint Inc.
Director
Salary
Bonus
Recent Work Highlights
• Wal−Mart Stores, Inc.
♦ 2002: EVP; President and CEO of Wal−Mart and SAM'S CLUB USA; and Director, $885,769 salary,
$935,929 bonus
♦ Title held until 2003: EVP; President and CEO of Wal−Mart and SAM'S CLUB USA; and Director
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Biography
Thomas M. Coughlin was promoted to executive vice president and vice chairman of Wal−Mart Stores Inc. (USA) in
April 2003. In his new role Mr. Coughlin will continue to be responsible for the U.S. retail operations of Wal−Mart
discount stores, Supercenters and SAM'S CLUBS, and also assumes responsibility for key support functions such as
Logistics, Real Estate development and Global Procurement. Previously, Coughlin was Executive Vice President and
President and Chief Executive Officer of Wal−Mart Stores Division and SAM'S CLUB USA since August 2002. Tom
Coughlin joined Wal−Mart in 1978. During his 25−year career with the company, he has served in key leadership
positions in Loss Prevention and Human Resources. He also served as Executive Vice President of SAM'S CLUB
Operations and Executive Vice President of Wal−Mart's Specialty Groups, such as Pharmacy and Optical. He was named
President and CEO of the Wal−Mart Stores Division in 1999, and he assumed the additional responsibility for the SAM'S
CLUB Division last August.
Source: Company Press Release, April 25, 2003
Michael T. Duke, Age 53
EVP; President and CEO, Wal−Mart Stores USA, $530,385 salary, $749,000 bonus
Recent Work Highlights
• Wal−Mart Stores, Inc.
♦ Title held until 2003: EVP; Administration
Biography
Mike Duke was promoted to Executive Vice President and President and CEO of the Wal−Mart Stores Division in April
2003. Previously, Mr. Duke served as Executive Vice President of Administration. Duke is now responsible for the
operations and merchandising of the company's Wal−Mart discount stores, Supercenters and Neighborhood Markets in
the U.S. Duke, who reported to Lee Scott in his previous role, will now report to Thomas Coughlin. Mike Duke joined
Wal−Mart in 1995. Duke was responsible for Wal−Mart's Logistics area until being named Executive Vice President of
Administration in 2000. Prior to joining Wal−Mart, Duke had 23 years of varied experience in the retail industry.
Source: Company Press Release, April 25, 2003
Thomas D. Hyde, Age 54
EVP, Legal and Corporate Affairs, Secretary
Biography
Thomas D. Hyde Executive Vice President, Legal and Corporate Affairs. Prior to July 2001, he served as Senior Vice
President and General Counsel of Raytheon Company since 1992. Hyde was formerly senior vice president and general
counsel of Raytheon Company, has been named to the new position of executive vice president and senior general
counsel. Hyde will assume his new duties at Wal−Mart in mid−July. In this position, Hyde will be responsible for
overseeing the legal activities and affairs of Wal−Mart's worldwide operations. Hyde has been with Raytheon since 1992.
There, he has been responsible for the following functions: legal, corporate secretarial, ethics, export control, real estate,
insurance, environment, and health and safety. Prior to joining Raytheon, Hyde served in a number of key legal, financial,
international and general management positions for several companies including Denver−based Manville Corporation, a
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building products manufacturer; and St. Louis−based Emerson Electric, a diversified manufacturing company. A native of
Kansas City, Hyde graduated from the University of Kansas in 1970 with an English degree. He received his law degree
from the University of Missouri in 1975 and earned an MBA in finance from the University of Kansas in 1981.
Source: 10K, April 15, 2003
John B. Menzer, Age 52
EVP; President and CEO, Wal−Mart International Division, $759,231 salary, $1,540,000 bonus
Other Company Affiliations
Company
Title
Emerson Electric Co.
Director
Salary
Bonus
Recent Work Highlights
• Wal−Mart Stores, Inc.
♦ 2002: EVP; President and CEO, Wal−Mart International Division, $717,308 salary, $838,927 bonus
Biography
Executive Vice President and President and Chief Executive Officer of Wal−Mart International Division. Prior to June
1999, he served as Executive Vice President and Chief Financial Officer of the Company.
Source: 10K, April 15, 2003
Coleman H. Peterson
EVP, People Division (Retiring from company effective April 30, 2004.)
Biography
Coleman H. Peterson is executive vice president of Wal−Mart's people division and has held this position since joining
the company in 1994. Peterson oversees the hiring and management of associates for Wal−Mart Stores, Inc. Prior to his
employment at Wal−Mart, Peterson spent 16 years as senior vice president of human resources for Venture Stores, Inc.
His background includes a total of 25 years experience in human resources. Peterson is active in numerous educational,
retail and professional organizations. In addition to serving on the advisory boards for Florida A&M and the University of
Florida Retail Institute, he is a trustee of the NAACP Special Contribution Fund. He is also an alumni member of the
Kappa Alpha Psi and Sigma Pi Phi fraternities. Peterson received his bachelor's and master's degrees from Loyola
University of Chicago.
Source: Company Web Site, 2003
Thomas M. (Tom) Schoewe, Age 50
EVP and CFO, $579,615 salary, $819,000 bonus
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Other Company Affiliations
Company
Title
Centex Corporation
Director
Salary
Bonus
Biography
Executive Vice President and Chief Financial Officer. From February 1997 to January 2000, he served as Senior Vice
President and Chief Financial Officer of Black & Decker Corporation. Prior to February 1997, he served as Vice President
and Chief Financial Officer of Black & Decker Corporation.
Source: 10K, April 15, 2003
Linda Dillman, Age 46
EVP and CIO
Recent Work Highlights
• Wal−Mart Stores, Inc.
♦ Title held until 2004: SVP and CIO
Biography
Linda M. Dillman joined Wal−Mart in 1991 and currently serves as Executive Vice President and Chief Information
Officer of Wal−Mart Stores, Inc. Her responsibilities include overseeing the Information Systems Division and also
serving on Wal−Mart's Executive Committee. She was named Senior Vice President and Chief Information Officer of
Wal−Mart Stores, Inc. in 2002. She was promoted to Executive Vice President in July 2003. Linda joined Wal−Mart
through the acquisition of The Wholesale Club in Indianapolis, Indiana. At Wal−Mart, Linda has served in several key
information services management positions, including applications development manager for SAM'S CLUB, application
development manager for Wal−Mart store systems, and was promoted to director of applications development in 1997. In
1998, Linda was named Vice President of Applications Development, where she led the system conversion for
Wal−Mart's acquisition of ASDA in the United Kingdom. Prior to her current position, she was the Vice President of
International Systems. Linda has been instrumental in helping Wal−Mart to develop one of the most sophisticated
information services network in the world. In addition to her role in the ASDA conversion, Linda's most noted
accomplishments were the implementation of the perpetual inventory and store Telxon systems at Wal−Mart. Prior to
Wal−Mart, Linda worked for Hewlett−Packard for five years.
Source: Company Web Site, 2004
B. Kevin Turner, Age 37
EVP; President and CEO SAM'S CLUB
Other Company Affiliations
Company
Title
SAM'S CLUB
President and CEO
Salary
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Bonus
11
Biography
B. Kevin Turner is Executive Vice President and President and Chief Executive Officer of SAM's CLUB. From
September 2001 to August 2002, he served as Executive Vice President and Chief Information Officer of the Information
Systems Division. From February 2000 to September 2001, he served as Senior Vice President and Chief Information
Officer of the Information Systems Division.
Source: 10K, April 15, 2003
Rollin L. Ford
EVP, Logistics and Supply Chain, $321,154 salary, $325,000 bonus
Biography
Rollin L. Ford currently serves as Executive Vice President, Logistics and Supply Chain. In his current capacity, he has
operating responsibility for all General Merchandise, Fashion, Grocery, SAM'S, Import, and Specialty Distribution
Centers. He also has all operating responsibility for all domestic transportation and the supply chain. Since joining
Wal−Mart Stores in 1983, Rollin has served as a member of the Distribution and Logistics Team, Vice President of the
Specialty Division and Transportation, and Senior Vice President for Logistics. Rollin is affiliated with numerous
organizations including the IMRA, Council of Logistics, and the NFTA, for which he currently sits on the Board of
Directors. Rollin graduated from Taylor University in Upland, Indiana with a bachelor's degree in business administration
and systems analysis.
Source: Company Web Site, 2004
M. Susan Chambers, Age 46
EVP, Risk Management, Benefits Administration, Aviation and Travel
Biography
M. Susan Chambers is the Executive Vice President of Risk Management, Benefits Administration, Aviation and Travel
for Wal−Mart Stores, Inc. Susan is responsible for claims management, benefits, global security, aviation and travel, food
safety and security, and risk control. She also serves on Wal−Mart's Executive Committee. Susan joined Wal−Mart in
1999. She initially trained in the field as a store and club manager for six months. She then held a position in Information
Systems Division as Vice President, Applications Development−Merchandising. Susan became Senior Vice President,
CMI, Benefits and Insurance Administration in January 2002. Prior to joining Wal−Mart, Susan was employed for 14
years with Hallmark Cards Incorporated. Her last position with Hallmark was as director of applications development.
Susan also held previous technical assignments at Amoco Oil Corporation. She is on the Kansas State University Business
Advisory Board and on the Perogative Advisory Board. She has a bachelor's degree in systems and data processing from
William Jewell College in Liberty, Mo.
Source: Company Web Site, 2004
Joseph J. (Jay) Fitzsimmons, Age 55
SVP, Finance and Treasurer
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Other Company Affiliations
Company
Title
Mexican Restaurants, Inc.
Director
Salary
Bonus
Biography
Jay Fitzsimmons is senior vice president of finance and treasurer for Wal−Mart Stores, Inc. Fitzsimmons has served as
vice president of finance for Wal−Mart since joining the company in 1994. Prior to his employment at Wal−Mart,
Fitzsimmons was vice president and analyst for Sell−Side Securities. He has also served as a senior vice president and
chief financial officer in the restaurant industry. Fitzsimmons earned his bachelor's degree at the University of Notre
Dame and later received a master's degree at the University of Chicago. He also is a Certified Public Accountant.
Source: Company Web Site, 2003
Charles M. Holley Jr., Age 46
SVP and Controller
Biography
Charles M. Holley joined Wal−Mart Stores, Inc. in 1994 as Director of Finance and Chief Financial Officer for the
Wal−Mart International Division. He was promoted to Vice President and Chief Financial Officer for the Wal−Mart
International Division in 1996 and to Senior Vice President and Chief Financial Office of the Wal−Mart International
Division in 1999. While in Wal−Mart's International Division, Charles helped pioneer the Company's international
expansion efforts, which included leading Wal−Mart's international mergers and acquisitions activities. In January 2003,
he was promoted to Senior Vice President and Controller of Wal−Mart Stores, Inc. where he is responsible for the
Company's accounting and tax matters as well as its financial reporting. Prior to joining Wal−Mart, Charles was with
Tandy Corporation as Managing Director for Tandy's European Memorex Consumer Product Division (Memtek
International) from 1992 to 1994 and served as Director of Finance for their International Operations from 1991 to 1992.
In addition, Charles spent 10 1/2 years with Ernst & Young. Charles received his bachelor's degree in accounting at the
University of Texas in Austin, and earned his MBA in finance at the University of Houston. He is a Certified Public
Accountant in the State of Texas and is a member of Financial Executives International (FEI).
Source: Company Web Site, 2004
David Dible
EVP, Specialty Division
Biography
David Dible is executive vice president of the specialty division of Wal−Mart Stores, Inc. He oversees all Merchandising
&Operations for specialty divisions at the company including Pharmacy, Photo, Tire & Lube Express, Optical, Jewelry
and Shoes. Since joining the company in 1971, Dible has served as Department Manager; Assistant Store Manager; Store
Manager; Buyer for Sporting Goods; Senior Buyer; Divisional Merchandise Manager; Vice President of Merchandise
Systems Development; Senior Vice President and General Merchandise Manager (GMM) for Hardlines; Senior Vice
President and GMM for Home/Seasonal; and Executive Vice President of Merchandising and Sales. Dible earned a
Bachelor of Science degree from Ft. Hays State University in Kansas. He also served in the United States Army.
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Source: Company Web Site, 2003
Gregory E. (Greg) Spragg, Age 43
EVP, Operations, SAM'S CLUB
Other Company Affiliations
Company
Title
SAM'S CLUB
EVP, Operations
Salary
Bonus
Recent Work Highlights
• SAM'S CLUB
♦ Title held until 2003: SVP, Operations
Biography
Gregory E. Spragg is Executive Vice President of Operations for SAM'S CLUB, a division of Wal−Mart Stores, Inc. In
this position, Greg has direct operational responsibility for more than 500 SAM'S CLUB domestic units. Greg joined the
company in 1998 as Vice President of SAM'S CLUB Operations. Prior to joining the company, Greg was the executive
vice president of operations for Bi Lo Supermarkets in Greenville, South Carolina. He also served as an executive vice
president of marketing and operations for Finast Foods Stores in Cleveland, Ohio. Greg attended North Carolina State
University.
Source: Company Web Site, 2004
Don S. Harris, Age 46
EVP, General Merchandise (Retiring effective April 30, 2004)
Biography
Don Harris is executive vice president of general merchandise for the Wal−Mart division of Wal−Mart Stores, Inc. He is
responsible for overseeing Wal−Mart's general merchandise programs in the United States, including categories such as
apparel, electronics and toys. Since joining Wal−Mart in 1980, Harris has served as assistant manager; store manager;
buyer; senior buyer; divisional merchandise manager; senior vice president and general merchandise manager; and
executive vice president of store operations for the Wal−Mart division. Harris is a member of Children's Miracle Network
Board of Governors.
Source: Company Web Site, 2003
James H. (Jim) Haworth, Age 39
EVP Operations, Wal−Mart Stores Division
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Recent Work Highlights
• Wal−Mart Stores, Inc.
♦ Title held until 2004: EVP and COO, Wal−Mart Stores Division
Biography
James H. Haworth is Executive Vice President of Operations for the Wal−Mart Stores Division. A 19−year associate of
Wal−Mart, Jim has direct operational responsibility for more than 1,500 Wal−Mart Stores, 1,300 Supercenters and more
than 50 Neighborhood Markets. Since joining Wal−Mart in May 1984, Jim has risen through the ranks, serving as an
Assistant Store Manager; Manager of stores in Fayetteville, Arkansas and Tulsa, Oklahoma; District Manager in Ohio;
Regional Vice President; and in the merchandise department for Wal−Mart. Jim has also served as Regional Vice
President, Senior Vice President, and Executive Vice President of SAM'S CLUB Operations. Jim was promoted to his
current position in August 2001. Jim graduated from Central Missouri State University in Warrensburg, Missouri with a
bachelor of science degree in business administration in 1984.
Source: Company Web Site, 2004
Craig R. Herkert
EVP and COO, Wal−Mart International
Biography
Craig R. Herkert currently serves as Executive Vice President and Chief Operating Officer for the Wal−Mart International
Division. He is responsible for International Merchandising (General Merchandise and Food), Marketing, and Operations.
Before his promotion in 2002, Craig served as the Senior Vice President and Chief Operating Office of the International
Division. Prior joining Wal−Mart in 2000, Craig was with Albertson's, Inc., in Boise, Idaho in the position of Executive
Vice−President of Marketing. Craig graduated for St. Francis College with a bachelor's degree in marketing. He also has a
master's degree from Northern Illinois University in Dekalb, Illinois.
Source: Company Web Site, 2004
Robert (Bob) Connolly, Age 57
EVP, Marketing and Consumer Communications
Biography
Robert F. Connolly serves as Executive Vice President of Marketing and Consumer Communications for the Wal−Mart
Stores Division Since joining the company in 1989 as Vice President and Merchandise Manager of Apparel, Bob has
served as Senior Vice President, General Merchandise Manager, Vice President of Women's Apparel, and Vice President
of Shoes and Jewelry. Bob accepted a position with Montgomery Ward as executive vice president in 1994 and returned
to Wal−Mart in 1996 as Executive Vice President of Merchandise for the Wal−Mart Stores Division. Prior to his
Wal−Mart career, Bob was senior vice president of Carson Pirie Scott and Sibleys/Associated Dry Goods. Bob serves on
the advisory board for the Walton College of Business at the University of Arkansas. Bob graduated from Rochester
Institute of Technology in Rochester, N.Y. with a bachelor's degree in business administration.
Source: Company Web Site, 2004
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
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Doug Degn, Age 44
EVP; Food and Consumables Merchandising
Biography
Doug Degn is executive vice president of food merchandising for Wal−Mart Stores, Inc. In this position, he oversees all
food product programs and consumable product categories for the company. Since joining Wal−Mart in 1983 as pharmacy
manager, Degn has served in a variety of executive positions including vice president and divisional merchandise
manager; vice president of pharmacy merchandising and support; and most recently senior vice president and general
merchandise manager of the Wal−Mart Stores division. Degn graduated from the University of Kansas in 1981 with a
bachelor of science degree in pharmacy, and he is currently an OTC advisory board member for the National Association
of Chain Drug Stores. Effective April 30, 2003 Degn will assume new responsibilities. In addition to his current
responsibilities, Degn will oversee several other key merchandise categories such as toys, electronics, sporting goods,
lawn and garden and entertainment products.
Source: Company Web Site, 2003
Claire A. Watts
EVP, Merchandising (Named EVP of Merchandising effective April 30, 2004)
Recent Work Highlights
• Wal−Mart Stores, Inc.
♦ Title held until 2003: SVP, Product Development
♦ Title held until 2004: SVP, Product Development
Biography
Claire A. Watts currently serves as the Executive Vice President of Merchandising for the Wal−Mart Stores Division. She
is responsible for Wal−Mart's apparel and home furnishing merchandise programs and Wal−Mart's product development
area. Claire began her career with Wal−Mart in 1997 as Divisional Merchandise Manager of Product Development. She
was promoted to Senior Vice President, in October 2001 and to her current position in 2003. Prior to joining Wal−Mart,
Claire worked in the retail industry for 17 years. During that time she served with Limited Stores, Lands' End, and May
Department Stores. Claire graduated from the University of Cincinnati with a bachelor's degree in marketing.
Source: Company Web Site, 2004
C. Douglas (Doug) McMillon, Age 35
EVP, Merchandising, SAM'S CLUB
Other Company Affiliations
Company
Title
SAM'S CLUB
EVP, Merchandising
Salary
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
Bonus
16
Biography
Doug McMillon was named Executive Vice President of Merchandising for Sam's Club in August 2002. Previously,
McMillion was senior vice president and general merchandise manager for Wal−Mart. McMillon first joined Wal−Mart in
1984. Since that time, he has served as a buyer in numerous areas, divisional merchandise manager and vice president and
general merchandise manager for Sam's Club International.
Source: Company Press Release, August 23, 2002
James A. Walker Jr., Age 55
SVP and Controller
Biography
James A. Walker, Jr. has served as Senior Vice President and Controller of the Company since 1995
Source: 10K, April 15, 2002
Greg B. Penner
SVP and CFO, Wal−Mart International Holdings Japan, $211,861 salary, $212,500 bonus
Recent Work Highlights
• Wal−Mart Stores, Inc.
♦ Title held until 2003: SVP, Finance and Operations
Biography
Greg B. Penner, a Senior Vice President of the Company, is the son−in−law of S. Robson Walton, a director of the
Company and beneficial owner of more than 5% of Wal−Mart stock.
Source: Proxy, April 15, 2003
Tom Mars, Age 43
SVP and General Counsel
Biography
Tom Mars joined Wal−Mart in February 2002 as vice president and assistant general counsel. He was appointed General
Counsel in May 2002. He will be in charge of all litigation activities for the company. Prior to joining Wal−Mart, Mars
was appointed director of the Arkansas State Police in 1998. He returned to private practice as a trial lawyer in
Fayetteville in February 2001. He is a graduate of Arkansas State University and the University of Arkansas School of
Law, where he finished first in his class in 1985. He was a clerk for Chief Judge Monroe G. McKay of the U.S. 10th
Circuit Court of Appeals in Salt Lake City and worked as an associate in the Rose Law Firm in Little Rock. Mars was a
partner in the Springdale firm of Stanley, Harrington & Mars from 1988 to 1993 and the Fayetteville firm of Everett &
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
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Mars from 1993 to 1998.
Source: Company Press Release, January 31, 2002
Charlyn Jarrells Porter
SVP, Chief Diversity Officer
Recent Work Highlights
• Wal−Mart Stores, Inc.
♦ Title held until 2004: SVP, Office of Diversity
Biography
Wal−Mart has appointed 11−year company veteran Charlyn Jarrells Porter to lead the company's new office of diversity
in November 2003. In her new role, Porter will report to vice chairman Tom Coughlin. Most recently, Porter led the
people division, or human resources, for all U.S. Wal−Mart stores. Before joining Wal−Mart, the attorney began her
career prosecuting crimes against women and children.
Source: DSN Retailing Today, November 19, 2003
Jeff McAllister
SVP; COO, Wal−Mart International Holdings Japan
Recent Work Highlights
• Wal−Mart Stores, Inc.
♦ Title held until 2003: SVP, Wal−Mart International Holdings
Gary Severson, Age 42
SVP, General Merchandise Manager, Hardlines
Biography
Gary Severson was promoted to Senior Vice President and General Merchandise Manager for Wal−Mart in August 2002.
Previously, Severson served as vice president and divisional merchandise manager for Wal−Mart. Severson began his
career with Wal−Mart as a buyer in 1994 after spending eight years with Venture Stores. He became vice president and
divisional merchandise manager for Wal−Mart in 1997.
Source: Company Press Release, August 23, 2002
Sue Oliver, Age 56
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SVP, People, Wal−Mart Stores, USA (Named SVP, People effective April 5, 2004.)
Biography
Wal−Mart Stores, Inc. today announced the appointment of Sue Oliver as Senior Vice President of People for Wal−Mart
Stores, USA, effective April 5. Oliver formerly served as Senior Vice President − Human Resources for American
Airlines, where she was responsible for all human resource functions for both corporate and field operations. In her new
role, Oliver will oversee all aspects of human resources including associate relations, succession planning, retention and
training and development strategies for all Wal−Mart Stores, Supercenters and Neighborhood Markets in the United
States. Oliver joined American in 1986 as a Counsel in Employee Relations and had spent the majority of her career with
American in that department. She was promoted to Vice President of Employee Relations in 1997 and was named Senior
Vice President of Human Resources in 2000. Oliver holds a bachelor of arts degree from George Washington University
and a law degree from the University of Denver. A native of Des Moines, Iowa, Oliver lives in Arlington, Tex. She and
her husband have three children.
Source: Company Press Release, March 17, 2004
Ester Silver−Parker
VP, Diversity Relations
Biography
Esther Silver−Parker will join Wal−Mart Stores as its vice president of diversity relations on Dec. 1. She is currently
AT&T's vp of corporate affairs and corporate citizenship.
Source: DSN Retailing Today, November 19, 2003
Joe Hatfield
President and CEO, Wal−Mart Asia
Biography
Joe Hatfiled, president and chief executive officer at Wal−Mart Asia, was appointed to the board of directors of The Seiyu
in March 2003.
Source: The Associated Press, March 26, 2003
John Fleming, Age 44
President and CEO, Wal−Mart.com
Other Company Affiliations
Company
Title
Wal−Mart.com USA, LLC
President and CEO
Salary
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
Bonus
19
Recent Work Highlights
• Wal−Mart Stores, Inc.
♦ Title held until 2001: SVP and Chief Merchandising Officer
Biography
John Fleming was promoted to president and CEO of Wal−Mart.com, the online unit of Wal−Mart Stores in December
2002. Previously Fleming was COO of Wal−Mart.com. Fleming, who joined Walmart.com in 2000 as chief merchant
overseeing procurement of merchandise and managing supplier relations, previously served as senior vice president of
merchandising for Marshall Fields, a division of Target Corporation. During his years with the retailer, Fleming held
various retail and merchandising positions, including vice president and general merchandise manager over apparel,
divisional merchandise manager for sportswear, and senior buyer.
Source: Company Press Release, December 19, 2002
Mario Pilozzi, Age 55
President and CEO, Wal−Mart Canada
Biography
Mario Pilozzi has been promoted to the position of President and CEO of the company's Canadian operation. Pilozzi has
spent the past 15 months as Chief Operating Officer of Wal−Mart Canada following more than 35 years of experience in
the Canadian retail industry. Pilozzi joined Wal−Mart Canada in 1994 as Vice−President and General Merchandise
Manager of Hardline Merchandise and was promoted to Senior Vice− President of Merchandise and Sales in 1996. In
September 2000 he was promoted to Chief Operating Officer. Prior to joining Wal−Mart, Pilozzi held a broad range of
positions with− Woolworth Canada spanning more than 30 years. Positions included Vice− President of Hardline
Merchandise; Administrator of Store Openings; District Manager; Store Manager; and several other key roles in
Woolworth's variety and discount−store divisions. In January 2000 Pilozzi received the Sam M. Walton Entrepreneur of
the Year Award, the company's highest recognition. The award recognizes outstanding retail leadership that exemplifies
the legendary entrepreneur spirit of Wal−Mart founder Sam Walton. Pilozzi is the first Canadian to be so honoured.
Pilozzi is The Honorary Chairperson of the Canadian Branch of the Children's Miracle Network and a Member of The
Board of Directors of the Retail Council of Canada. He was raised in Montreal and is fluent in English, French and Italian.
Source: Company Press Release, January 28, 2002
Vincent Trius
President, Wal−Mart Brazil
Other Company Affiliations
Company
Title
Bompreço S.A. Supermercados do Nordeste
President, Wal−Mart Brazil
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
Salary
Bonus
20
John Lewis
CFO, Wal−Mart International
Timothy E. Coughlin
Director, Regional Loss Prevention, $78,077 salary, $18,864 bonus
Biography
Timothy E. Coughlin, a Regional Loss Prevention Director of the Company, is the brother of Thomas M. Coughlin,
Executive Vice President and President and Chief Executive Officer of Wal−Mart Stores Division and SAM'S CLUB
USA.
Source: Proxy, April 15, 2003
Michael L. Grimm
Merchandise Buyer, $71,543 salary, $17,170 bonus
Biography
Michael L. Grimm, a merchandise buyer for the Company, is the son of Thomas R. Grimm, former President and Chief
Executive Officer of SAM'S CLUB.
Source: Proxy, April 15, 2003
James W. (Jim) Breyer, Age 41
Director
Other Company Affiliations
Company
Title
Accel Partners
Managing Partner
RealNetworks, Inc.
Director
Salary
Bonus
Biography
Managing Partner of Accel Partners, a leading venture capital firm. He is also a director of RealNetworks, Inc. He has
been a member of Wal−Mart's Board of Directors since 2001.
Source: Company Web Site, 2004
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M. Michele Burns, Age 46
Director
Other Company Affiliations
Company
Title
Cisco Systems, Inc.
Director
Delta Air Lines, Inc.
EVP and CFO
Salary
Bonus
$560,000
Recent Work Highlights
• Delta Air Lines, Inc.
♦ 2002: EVP and CFO, $560,000 salary, $846,000 bonus
♦ 2001: EVP and CFO, $530,000 salary
Biography
M. Michele Burns is Executive Vice President and Chief Financial Officer of Delta Air Lines, Inc. since August 2000.
Prior to this appointment, she held various positions with Delta Air Lines, Inc., including: Senior Vice President −
Finance and Treasurer, from January 2000 to August 2000; Vice President − Corporate Tax and Treasurer, from
September 1999 to January 2000; and Vice President − Corporate Tax, from January 1999 to September 1999. From 1991
to January 1999, she was a partner in Arthur Andersen, LLP, an accounting firm. She is also a director of Orbitz, Inc. and
Worldspan L.P. Ms. Burns joined the board of directors of Wal−Mart Stores in June 2003.
Source: Proxy, April 15, 2003
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Overview
Wal−Mart Stores is an irresistible (or at least unavoidable) retail force that has yet to meet any immovable objects. Bigger
than Carrefour, Royal Ahold, and Kroger combined, it is the world's #1 retailer, with about 4,800 stores, including some
1,475 discount stores, 1,750 combination discount and grocery stores (Wal−Mart Supercenters in the US and ASDA in the
UK), and 538 membership−only warehouse stores (SAM'S CLUB). Nearly 75% of its stores are in the US, but Wal−Mart
is expanding internationally; it is the #1 retailer in Canada and Mexico. It owns 36% of Japanese supermarket chain
SEIYU. Wal−Mart also has operations in South America, Asia, and Europe. Founder Sam Walton's heirs own about 38%
of Wal−Mart.
Wal−Mart is famous for its low prices and breadth of merchandise. Another part of the retailing leviathan's appeal is its
efforts to promote a small−town flavor, with friendly greeters and patriotic trappings. The chain doesn't just compete in
discount staples such as food and clothing −− it is a force in many other categories including electronics, health and
beauty products, sporting goods, entertainment (CDs, DVDs, and videos), and toys. Its prescription drug sales make it
North America's #3 pharmacy operator (behind Walgreen and CVS). Wal−Mart also sells products online.
Already the nation's largest seller of groceries through more than 1,400 Supercenters in 43 states (up from 441
Supercenters in 28 states five years ago), Wal−Mart would like to add California to the list. The retailer plans to open 40
Supercenters there over the next four years, but is meeting resistance from residents and local governments concerned
about traffic and preserving open space. In Tampa, Florida, Wal−Mart is testing a slimmed−down version of its massive
Supercenters −− the company's most productive format −− designed for urban areas.
Wal−Mart holds a majority stake in Wal−Mart de México. Wal−Mart Puerto Rico recently bought 33 stores from the
island's largest grocery chain, Supermercados Amigo. The company also has stores in Asia, Europe, and South America.
Japan too is on Wal−Mart's shopping list. The company, which took a 6% stake in SEIYU LTD. in March 2002, has since
increased its holding to 36%. One of Japan's top retailers, SEIYU runs more than 400 stores, including supermarkets,
shopping centers, and department stores. In China, where Wal−Mart has more than 30 stores, the company is investing
$28 million to open three outlets in the northeastern province of Heilongjiang, and has formed a joint venture to open
stores in Shanghai and other cities in eastern China. (Wal−Mart imports about $15 billion in goods annually from China.)
To fuel its global expansion, Wal−Mart plans to add 800,000 workers worldwide over the next five years. In the US up to
55 new discount stores and as many as 230 Supercenters are slated to open in 2004.
The company stands accused by federal prosecutors of violating immigration laws and faces a grand jury investigation
following midnight raids in October 2003 that uncovered hundreds of illegal immigrants −− employed by outside
contractors −− cleaning its stores. Soon after, Wal−Mart became the target of a class−action suit saying it violated federal
racketeering laws by conspiring with cleaning contractors to cheat immigrant janitors out of wages and the government
out of workers' compensation, social security payments, and federal payroll taxes. An internal audit by the company in
July 2000 uncovered extensive violations of child−labor laws and state regulations requiring time for breaks and meals.
Wal−Mart claims the audit, which is under court seal, is flawed and meaningless.
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History
Sam Walton began his retail career as a J. C. Penney management trainee and later leased a Ben Franklin−franchised dime
store in Newport, Arkansas, in 1945. In 1950 he relocated to Bentonville, Arkansas, and opened a Walton 5 & 10. By
1962 Walton owned 15 Ben Franklin stores under the Walton 5 & 10 name.
After Ben Franklin management rejected his suggestion to open discount stores in small towns, Walton, with his brother
James "Bud" Walton, opened the first Wal−Mart Discount City in Rogers, Arkansas, in 1962. Wal−Mart Stores went
public in 1970 with 18 stores and sales of $44 million.
Avoiding regional retailers, Walton opened stores in small and midsized towns in the 1970s. The company sold its Ben
Franklin stores in 1976. By 1980 Wal−Mart's 276 stores had sales of $1.2 billion.
In 1983 Wal−Mart opened SAM'S Wholesale Club, a concept based on the successful cash−and−carry, membership−only
warehouse format pioneered by the Price Company of California (now Costco Wholesale Corp.)
The company started Hypermart*USA in 1987 as a joint venture with Dallas−based supermarket chain Cullum
Companies (now Randall's Food Markets). The 200,000−sq.−ft. discount store/supermarket hybrid was later retooled as
Wal−Mart Supercenters. Sam stepped down as CEO in 1988 and president David Glass was appointed CEO. Wal−Mart
bought out Cullum the next year.
Wal−Mart acquired wholesale distributor McLane Company in 1990. In 1992, the year Sam died, the company expanded
into Mexico through a joint venture to open SAM'S CLUBS with Mexico's largest retailer Cifra (renamed Wal−Mart de
México in 2000). Wal−Mart acquired 122 former Woolco stores in Canada in 1994. Co−founder Bud died a year
later.
More international expansion included entering China in 1996; the acquisition of German hypermarket chain Wertkauf in
1997; the purchase of Brazilian retailer Lojas Americanas' 40% interest in a joint venture (1998); and the addition of four
stores and other sites in South Korea. Also in 1998 the company began testing the Neighborhood Market format, a
40,000−sq.−ft. grocery and drug combination store. In 1999 Wal−Mart bought 74 German−based Interspar hypermarkets
and acquired ASDA Group, the UK's third−largest supermarket chain.
COO Lee Scott succeeded Glass as CEO in 2000; Glass stayed on as chairman of the executive committee. Wal−Mart
later began testing its customers' demand for appliances by selling household appliances in selected stores.
Following the bankruptcy and closure of the Montgomery Ward department store chain in 2001, Wal−Mart offered to
replace Ward's customers' credit cards with Wal−Mart branded cards. Wal−Mart also formed an alliance with America
Online to offer Internet access and later launched its No Boundaries private−label cosmetics for pre−teens and teenagers.
In June 2001 a group of six current and former female Wal−Mart employees filed a sex−discrimination lawsuit (seeking
to represent up to 500,000 current and former Wal−Mart workers) against the company. The next month Wal−Mart said it
would acquire all the minority interests in Walmart.com and integrate its online operations with its store operations. It also
laid off 100 employees at its corporate headquarters and eliminated 300 unfilled positions. In August it said it was testing
the sale of Sealy and private−label mattresses in some of its superstores, and it began offering college textbooks
discounted up to 30% at its online College Bookstore.
2002 was a huge year for Wal−Mart both at home and abroad. In April the company was crowned America's largest
corporation by FORTUNE magazine. In March Wal−Mart gained a foothold in Japan, taking a 6% stake in one of Japan's
top retailers, SEIYU . That December it increased its SEIYU stake to 36%, and retains the option to up that to nearly 67%
by 2007. In a rare defeat, Wal−Mart in July closed its first store in Germany, and 2,000 workers there went on a two−day
strike over wages. (In 2001 Wal−Mart scrapped plans to open 50 more Supercenters there by 2003.) Also in 2002
Wal−Mart Puerto Rico acquired Supermercados Amigo, the #1 supermarket chain on the island. (Wal−Mart opened its
first Supercenter there in April 2001.)
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Overall in 2002 Wal−Mart opened 178 supercenters, 33 discount stores, and 25 SAM'S CLUB stores. It opened 107
international units, with two in Brazil, 22 in Canada, eight in China, two in Germany, three in South Korea, 59 in Mexico,
two in Puerto Rico, and nine in the UK.
In May 2003 Wal−Mart sold its McLane grocery distribution business to Berkshire Hathaway; a rare divestment for the
world's largest retailer. In July it opened its first store in Beijing.
In February 2004, a federal judge ruled that Wal−Mart should pay workers for overtime hours. The ruling, brought by
plaintiffs who said they were forced to work unpaid overtime between 1994 and 1999, came at a time when working
conditions at the company are being scrutinized. In March, Wal−Mart acquired the 118−store Bompreço chain of
Brazilian supermarkets and hypermarkets from troubled Dutch retailer Royal Ahold for $300 million, advancing the
world's largest retailer from fifth to third place in the Brazilian market. In March, Wal−Mart opened its online music store,
which sells digital downloads for 11 cents less than major competitors ( including Apple Computer's iTunes and Napster).
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Products/Operations
2003 Stores
No.
US
Texas
Florida
California
Illinois
Missouri
Ohio
Georgia
North Carolina
Pennsylvania
Tennessee
Oklahoma
Indiana
Alabama
Louisiana
New York
Arkansas
Virginia
Michigan
Kentucky
Wisconsin
Mississippi
South Carolina
Colorado
Iowa
Kansas
Minnesota
Arizona
Maryland
Massachusetts
New Jersey
Washington
Connecticut
West Virginia
New Hampshire
New Mexico
Utah
Oregon
Maine
Nebraska
Nevada
Idaho
Montana
South Dakota
Wyoming
North Dakota
Alaska
Rhode Island
Delaware
Hawaii
Vermont
Mexico
UK
Canada
Germany
Puerto Rico
China
Brazil
South Korea
364
191
163
141
128
124
123
116
113
107
100
98
94
94
92
88
86
84
80
80
68
68
60
58
58
55
51
50
45
38
37
32
31
29
29
29
27
24
24
23
17
12
12
11
10
9
9
7
7
4
597
258
213
94
52
26
22
15
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Argentina
11
Total
4,688
Wal−Mart Stores
International
SAM'S CLUB
Other
2003 Sales
$ mil.
% of total
157,121
64
40,794
17
31,702
13
14,907
6
Total
244,524
Discount stores
Supercenters
SAM'S CLUB
Neighborhood Markets
International stores
Total
100
2003 Stores
No.
1,568
1,258
525
49
1,288
4,688
Grocery, candy & tobacco
Hardgoods (hardware, housewares,
auto supplies, small appliances)
Softgoods/domestics
Electronics
Pharmaceuticals
Health & beauty aids
Sporting goods & toys
Stationery
One−hour photo
Jewelry
Shoes
Total
2003 Sales
% of total
24
20
18
9
9
7
6
3
2
1
1
100
Retail Divisions
• ASDA (large, combination general merchandise and food stores)
• Neighborhood Markets (traditional supermarkets)
• SAM'S CLUB (members−only warehouse clubs)
• Supercenters (large, combination general merchandise and food stores)
• Wal−Mart International Division (foreign operations)
• Wal−Mart Stores (general merchandise)
Support Divisions
• Wal−Mart Distribution Centers (45 regional centers, primarily supplying Wal−Marts and Supercenters)
Selected Private Labels
• Catalina (clothing, licensed)
• Equate (health and beauty aids)
• Faded Glory (jeans, licensed)
• Great Value (dairy, dry grocery, meat, and produce)
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• McKids (children's clothing, licensed)
• Member's Mark (Sam's Clubs store brand)
• Ol' Roy (dog food)
• One Source (vitamins)
• Sam's American Choice (grocery items)
• White Stag (clothing, licensed)
Archived Charts
Grocery, candy & tobacco
Hard goods (hardware, housewares,
auto supplies, small appliances)
Soft goods/domestics
Pharmaceuticals
Electronics
Health & beauty aids
Sporting goods & toys
Stationery
One−hour photo
Jewelry
Shoes
Total
2002 Sales
% of total
22
21
18
9
9
7
7
3
2
1
1
100
2002 Stores
No.
Discount stores
1,647
Supercenters
1,066
Sam's Club
500
Neighborhood Markets
31
International stores 1,151
Total
4,395
2002 Stores
No.
US
Texas
Florida
California
Illinois
Missouri
Ohio
Georgia
North Carolina
Tennessee
Pennsylvania
Indiana
Oklahoma
Alabama
Louisiana
Arkansas
New York
Virginia
Michigan
Kentucky
Wisconsin
South Carolina
Mississippi
Iowa
342
182
154
140
128
116
115
112
104
102
97
98
92
91
89
86
81
80
79
74
68
66
58
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Kansas
Colorado
Minnesota
Arizona
Maryland
Massachusetts
New Jersey
Washington
West Virginia
New Hampshire
New Mexico
Oregon
Connecticut
Utah
Nebraska
Maine
Nevada
Idaho
Montana
Wyoming
South Dakota
North Dakota
Alaska
Rhode Island
Delaware
Hawaii
Vermont
Mexico
UK
Canada
Germany
Brazil
China
Puerto Rico
Argentina
South Korea
Total
57
56
52
49
43
42
34
34
31
27
26
26
26
25
24
23
21
16
12
11
11
10
9
9
7
7
4
551
250
196
95
22
19
17
11
9
4,395
Wal−Mart Stores
SAM's Clubs
International
Other
2002 Sales
$ mil.
% of total
139,131
64
29,395
13
35,485
17
13,788
6
Total
217,799
100
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Other Resources Available On Hoover's Online
News for Wal−Mart (last 90 days)
Company Press Release Archive
Other Resources
• Headquarters Map
• SEC Filings
♦ 10−K Filings
• Stock Quote
• Stock Chart
• Earnings Estimates
• ValuEngine Analysis
• Annual Report
• Investor Relations
• Financial Data Definitions
• Market Data Definitions
• Comparison Data Definitions
• Historical Financials & Employees Definitions
Related Products From Our Trusted Partners
Buy Reports and Books
Additional Research On Wal−Mart
• D&B Business/Credit Reports: Wal−Mart Stores, Inc.
• Corporate Hierarchy
(D&B, Feb 1, 2004, Business Reports)
• Wal−Mart Stores, Inc.: Company Profile
(Datamonitor, Feb 1, 2004, Business Reports)
• Quantitative Report for WMT
(ValuEngine, Inc., Jan 1, 2004, Business Reports)
• Retail Travail: Selling in a Wal−Mart World
(Hoover's, Inc., Feb 1, 2004, Business Reports)
• Drugs & Druggists' Sundries Wholesale Major Companies Report
(Harris Industry Reports, Aug 12, 2003, Business Reports)
• Discount & Variety Retail: Financial Analysis Profiles
(BizMiner, Dec 23, 2003, Business Reports)
• All Other General Merchandise Stores in the US
(IBISWorld, Jan 28, 2004, Business Reports)
• Special Package: Online Retail Strategies and Projections
(Forrester Research Inc, Jan 1, 2001, Business Reports)
Additional 3rd Party Libraries
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
30
Annual Financials
All amounts in millions of US Dollars
Income Statement
Jan 04 (Prelim.)
Jan 03
Jan 02
256,329.0
244,524.0
217,799.0
Cost of Goods Sold
−−
188,406.0
168,272.0
Gross Profit
−−
56,118.0
49,527.0
Gross Profit Margin
−−
22.9%
22.7%
SG&A Expense
−−
41,043.0
36,173.0
Depreciation & Amortization
−−
3,432.0
3,290.0
Operating Income
−−
11,643.0
10,064.0
Operating Margin
−−
4.8%
4.6%
Nonoperating Income
−−
2,139.0
2,013.0
Nonoperating Expenses
−−
1,063.0
1,326.0
Income Before Taxes
−−
12,719.0
10,751.0
Income Taxes
−−
4,487.0
3,897.0
Net Income After Taxes
−−
8,232.0
6,854.0
8,861.0
8,039.0
6,671.0
193.0
0.0
0.0
Total Operations
9,054.0
8,039.0
6,671.0
Total Net Income
9,054.0
8,039.0
6,671.0
Net Profit Margin
3.5%
3.3%
3.1%
Diluted EPS from Continuing Operations ($)
2.03
1.81
1.49
Diluted EPS from Discontinued Operations ($)
0.04
0.00
0.00
Diluted EPS from Total Operations ($)
2.07
1.81
1.49
0.36
0.30
0.28
Jan 04 (Prelim.)
Jan 03
Jan 02
Cash
−−
2,758.0
2,161.0
Net Receivables
−−
2,108.0
2,000.0
Inventories
−−
24,891.0
22,614.0
Revenue
Continuing Operations
Discontinued Operations
Diluted EPS from Total Net Income ($)
Dividends per Share
Balance Sheet
Assets
Current Assets
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
31
Other Current Assets
−−
726.0
1,471.0
Total Current Assets
−−
30,483.0
28,246.0
Net Fixed Assets
−−
51,904.0
45,750.0
Other Noncurrent Assets
−−
12,298.0
9,455.0
Total Assets
−−
94,685.0
83,451.0
Jan 04 (Prelim.)
Jan 03
Jan 02
Accounts Payable
−−
17,140.0
15,617.0
Short−Term Debt
−−
5,793.0
3,148.0
Other Current Liabilities
−−
9,684.0
8,517.0
Total Current Liabilities
−−
32,617.0
27,282.0
Long−Term Debt
−−
19,608.0
18,732.0
Other Noncurrent Liabilities
−−
0.0
0.0
Total Liabilities
−−
55,348.0
48,349.0
Preferred Stock Equity
−−
0.0
0.0
Common Stock Equity
−−
39,337.0
35,102.0
Total Equity
−−
39,337.0
35,102.0
4,328.0
4,395.0
4,453.0
Jan 04 (Prelim.)
Jan 03
Jan 02
Net Operating Cash Flow
−−
12,532.0
10,260.0
Net Investing Cash Flow
−−
(9,709.0)
(7,146.0)
Net Financing Cash Flow
−−
(2,222.0)
(2,978.0)
Net Change in Cash
−−
597.0
107.0
Depreciation & Amortization
−−
3,432.0
3,290.0
Capital Expenditures
−−
(10,104.0)
(8,383.0)
Cash Dividends Paid
Data Definitions
−−
(1,328.0)
(1,249.0)
Liabilities and Shareholders' Equity
Current Liabilities
Shareholders' Equity
Shares Outstanding (mil.)
Cash Flow Statement
Some financial information provided by Media General Financial Services, Inc.
, Richmond, Virginia
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
32
Quarterly Financials
All amounts in millions of US Dollars except per share amounts.
Income Statement
Revenue
Quarter Ending Jan Quarter Ending
04 (Prelim.)
Oct 03
Quarter Quarter Ending
Ending Jul 03
Apr 03
Quarter
Ending
Jan 03
74,494.0
62,480.0
62,637.0
56,718.0
71,073.0
Cost of Goods Sold
−−
47,321.0
47,344.0
43,030.0
55,262.0
Gross Profit
−−
15,159.0
15,293.0
13,688.0
15,811.0
Gross Profit Margin
−−
24.3%
24.4%
24.1%
22.2%
SG&A Expense
−−
11,344.0
11,142.0
10,216.0
11,112.0
Depreciation & Amortization
−−
971.0
954.0
888.0
985.0
Operating Income
−−
2,844.0
3,197.0
2,584.0
3,714.0
Operating Margin
−−
4.6%
5.1%
4.6%
5.2%
Nonoperating Income
−−
591.0
632.0
544.0
551.0
Nonoperating Expenses
−−
242.0
252.0
250.0
255.0
Income Before Taxes
−−
3,193.0
3,577.0
2,878.0
4,010.0
Income Taxes
−−
1,117.0
1,253.0
1,006.0
1,417.0
Net Income After Taxes
−−
2,076.0
2,324.0
1,872.0
2,593.0
2,722.0
2,028.0
2,283.0
1,830.0
2,529.0
0.0
0.0
161.0
31.0
0.0
Total Operations
2,722.0
2,028.0
2,444.0
1,861.0
2,529.0
Total Net Income
2,722.0
2,028.0
2,444.0
1,861.0
2,529.0
Net Profit Margin
3.7%
3.2%
3.9%
3.3%
3.6%
Diluted EPS from
Continuing Operations ($)
0.63
0.46
0.52
0.41
0.57
Diluted EPS from
Discontinued Operations ($)
0.00
0.00
0.04
0.01
0.00
Diluted EPS from Total
Operations ($)
0.63
0.46
0.56
0.42
0.57
0.09
0.09
0.09
0.09
0.08
Quarter Quarter Ending
Ending Jul 03
Apr 03
Quarter
Ending
Jan 03
Continuing Operations
Discontinued Operations
Diluted EPS from Total Net
Income ($)
Dividends per Share
Balance Sheet
Quarter Ending Jan Quarter Ending
04 (Prelim.)
Oct 03
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
33
Assets
Current Assets
Cash
−−
3,312.0
4,472.0
2,468.0
2,758.0
Net Receivables
−−
1,111.0
1,062.0
985.0
2,108.0
Inventories
−−
31,286.0
25,684.0
25,927.0
24,891.0
Other Current Assets
−−
1,081.0
935.0
1,968.0
726.0
Total Current Assets
−−
36,790.0
32,153.0
31,348.0
30,483.0
Net Fixed Assets
−−
56,202.0
54,516.0
52,266.0
51,904.0
Other Noncurrent Assets
−−
11,829.0
12,117.0
12,859.0
12,298.0
Total Assets
−−
104,821.0
98,786.0
96,473.0
94,685.0
Quarter Quarter Ending
Ending Jul 03
Apr 03
Quarter
Ending
Jan 03
Liabilities and
Shareholders' Equity
Quarter Ending Jan Quarter Ending
04 (Prelim.)
Oct 03
Current Liabilities
Accounts Payable
−−
20,585.0
17,484.0
17,855.0
17,140.0
Short−Term Debt
−−
7,803.0
5,400.0
4,562.0
5,793.0
Other Current Liabilities
−−
10,837.0
9,949.0
9,805.0
9,684.0
Total Current Liabilities
−−
39,225.0
32,833.0
32,222.0
32,617.0
Long−Term Debt
−−
19,948.0
20,207.0
20,939.0
19,608.0
Other Noncurrent Liabilities
−−
0.0
0.0
12.0
0.0
Total Liabilities
−−
62,649.0
56,192.0
56,273.0
55,348.0
Preferred Stock Equity
−−
0.0
0.0
0.0
0.0
Common Stock Equity
−−
42,172.0
42,594.0
40,200.0
39,337.0
Total Equity
−−
42,172.0
42,594.0
40,200.0
39,337.0
4,328.0
4,328.0
4,369.2
4,378.9
4,395.0
Quarter Quarter Ending
Ending Jul 03
Apr 03
Quarter
Ending
Jan 03
Shareholders' Equity
Shares Outstanding (mil.)
Cumulative Cash Flow
Statement
Quarter Ending Jan Quarter Ending
04 (Prelim.)
Oct 03
Net Operating Cash Flow
−−
7,692.0
6,317.0
2,653.0
12,532.0
Net Investing Cash Flow
−−
(5,598.0)
(2,956.0)
(1,854.0)
(9,709.0)
Net Financing Cash Flow
−−
(1,610.0)
(1,555.0)
(960.0)
(2,222.0)
Net Change in Cash
−−
554.0
1,714.0
(270.0)
597.0
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
34
Depreciation & Amortization
−−
971.0
954.0
Capital Expenditures
−−
(5,422.0)
(4,646.0)
Cash Dividends Paid
−−
(1,180.0)
(788.0)
888.0
985.0
(1,996.0) (10,104.0)
(395.0)
(1,328.0)
Data Definitions
Some financial information provided by Media General Financial Services, Inc.
, Richmond, Virginia
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
35
Historical Financials & Employees
Income Statement
Year
Revenue
($ mil.)
Net Income
($ mil.)
Net Profit
Margin
Employees
Jan 03
244,524.0
8,039.0
3.3%
1,400,000
Jan 02
217,799.0
6,671.0
3.1%
1,383,000
Jan 01
191,329.0
6,295.0
3.3%
1,244,000
Jan 00
165,013.0
5,377.0
3.3%
1,140,000
Jan 99
137,634.0
4,430.0
3.2%
910,000
Jan 98
117,958.0
3,526.0
3.0%
825,000
Jan 97
104,859.0
3,056.0
2.9%
728,000
Jan 96
93,627.0
2,740.0
2.9%
675,000
Jan 95
82,494.0
2,681.0
3.2%
622,000
Jan 94
67,344.6
2,333.3
3.5%
528,000
Stock History
Stock Price ($)
Year
P/E
Per Share ($)
FY
High
FY
Low
FY
Close
High
Low
Earns.
Div.
Book
Value
Jan 03
63.9
41.5
47.8
35.3
22.9
1.8
0.3
9.0
Jan 02
60.0
41.5
60.0
40.3
27.9
1.5
0.3
7.9
Jan 01
64.9
41.4
56.8
46.4
29.6
1.4
0.2
7.0
Jan 00
70.2
38.9
54.8
56.2
31.1
1.2
0.2
5.8
Jan 99
43.2
20.1
43.0
43.7
20.3
1.0
0.2
4.7
Jan 98
21.0
11.5
19.9
26.9
14.7
0.8
0.1
4.1
Jan 97
14.1
10.1
11.9
21.1
15.0
0.7
0.1
3.8
Jan 96
13.8
9.6
10.2
23.0
15.9
0.6
0.1
3.2
Jan 95
14.6
10.3
11.4
24.8
17.5
0.6
0.1
2.8
Jan 94
17.1
11.5
13.2
33.5
22.5
0.5
0.1
2.3
2003 Year−End Financials
Debt ratio
49.8%
Return on equity
20.4%
Cash ($ mil.)
2,758.0
Current ratio
0.93
Long−term debt ($ mil.)
19,608.0
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
36
Shares Outstanding (mil.)
4,395.0
Dividend yield
0.6%
Dividend payout
16.6%
Market Cap ($ mil.)
210,081.0
Data Definitions
Some financial information provided by Media General Financial Services, Inc.
, Richmond, Virginia
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
37
Market Data
Current Information
Last Close 23−Mar−2004
$58.21 Price/Sales Ratio
0.98
52−Week High
$61.31 Price/Book Ratio
5.98
52−Week Low
$50.50 Price/Earnings Ratio
60−Month Beta
28.12
0.8 Price/Cash Flow Ratio
Market Cap (mil.)
Shares Outstanding (mil.)
Dividend Rate
19.87
$251,932.9 Return on Assets
8.6%
4,328.0 Return on Equity
21.5%
0.52 Current Ratio
0.94
Dividend Yield
0.9% Long−Term Debt/Equity
−−
# of Institutional Holders
3,042 % Owned by Institutions
36.2%
Latest Short Interest Ratio
Growth Rates
2.10 Latest Net Insider Transactions
0.00
12 Month
36 Month
60 Month
4.8%
10.4%
13.4%
EPS Growth
14.4%
14.7%
14.8%
Dividend Growth
20.0%
13.7%
16.7%
Revenue Growth
Data Definitions
Some financial information provided by Media General Financial Services, Inc.
, Richmond, Virginia
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
38
Comparison Data
Company
Industry1
Market2
24.72%
24.12%
48.25%
Pre−Tax Profit Margin
5.33%
5.05%
6.92%
Net Profit Margin
3.53%
3.18%
4.05%
Return on Equity
21.5%
18.8%
7.9%
Return on Assets
8.6%
7.8%
1.3%
14.6%
12.5%
3.8%
Company
Industry1
Market2
0.98
0.90
1.37
28.12
28.90
33.17
5.98
5.33
2.66
19.87
18.92
13.40
Company
Industry1
Market2
1.56
7.88
58.63
Inventory Turnover
6.3
7.2
7.6
Days Cost of Goods Sold in Inventory
57
50
47
Asset Turnover
2.6
2.5
0.3
168.2
46.0
6.3
35.1%
36.0%
41.1%
Company
Industry1
Market2
0.94
1.16
1.42
0.1
0.3
1.0
Leverage Ratio
2.49
2.39
5.95
Total Debt/Equity
0.66
0.61
1.42
Interest Coverage
14.50
11.30
2.30
Company
Industry1
Market2
59.23
52.15
19.90
Fully Diluted Earnings Per Share
from Total Operations
2.07
1.63
0.82
Dividends Per Share
0.36
0.25
0.43
Cash Flow Per Share
2.93
2.49
2.03
(0.56)
1.12
2.26
Long−Term Debt Per Share
4.61
4.42
11.10
Book Value Per Share
9.74
8.84
10.24
Profitability
Gross Profit Margin
Return on Invested Capital
Valuation
Price/Sales Ratio
Price/Earnings Ratio
Price/Book Ratio
Price/Cash Flow Ratio
Operations
Days of Sales Outstanding
Net Receivables Turnover Flow
Effective Tax Rate
Financial
Current Ratio
Quick Ratio
Per Share Data ($)
Revenue Per Share
Working Capital Per Share
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
39
Total Assets Per Share
24.22
21.14
60.91
Company
Industry1
Market2
4.8%
2.3%
7.0%
12−Month Net Income Growth
12.6%
1.9%
147.2%
12−Month EPS Growth
14.4%
1.2%
156.3%
12−Month Dividend Growth
20.0%
4.2%
4.9%
36−Month Revenue Growth
10.4%
5.0%
2.5%
36−Month Net Income Growth
13.6%
13.9%
(9.3%)
36−Month EPS Growth
14.7%
16.9%
(10.0%)
36−Month Dividend Growth
13.7%
8.6%
2.2%
Growth
12−Month Revenue Growth
1Industry:
Discount, Variety Stores
Industry classifications
are from Media General Financial Services, Inc.
2
.
Public companies trading on the New York Stock Exchange, the American Stock Exchange, and the NASDAQ National Market.
Data Definitions
Some financial information provided by Media General Financial Services, Inc.
, Richmond, Virginia
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
40
Competitive Landscape
KEY: Best of Group. Companies listed are Top Competitors.
Key Numbers
Kmart 1
Wal−Mart
Costco Wholesale
256,329.0
42,545.6
30,762.0 48,163.0
−−
103,000
212,000
251,932.9
16,706.1
Wal−Mart
Costco Wholesale
24.72%
16.11%
Pre−Tax Profit Margin
5.33%
2.59%
−−
5.68%
5.05%
6.92%
Net Profit Margin
3.53%
1.72%
−−
3.82%
3.18%
4.05%
Return on Equity
21.5%
11.5%
−−
17.9%
18.8%
7.9%
Return on Assets
8.6%
5.4%
−−
5.9%
7.8%
1.3%
14.6%
9.6%
−−
8.7%
12.5%
3.8%
Wal−Mart
Costco Wholesale
1
0.98
0.37
−−
0.83
0.90
1.37
28.12
21.97
−−
21.81
28.90
33.17
5.98
2.45
−−
3.89
5.33
2.66
19.87
14.65
−−
13.33
18.92
13.40
Wal−Mart
Costco Wholesale
Kmart 1
1.56
2.88
−−
40.12
7.88
58.63
Inventory Turnover
6.3
9.8
−−
5.2
7.2
7.6
Days Cost of Goods Sold in Inventory
57
37
−−
69
50
47
Asset Turnover
2.6
3.4
−−
1.6
2.5
0.3
168.2
110.2
−−
9.4
46.0
6.3
35.1%
37.4%
−−
38.0%
36.0%
41.1%
Wal−Mart
Costco Wholesale
Kmart 1
0.94
1.11
−−
1.55
1.16
1.42
0.1
0.4
−−
0.7
0.3
1.0
Leverage Ratio
2.49
2.11
−−
3.06
2.39
5.95
Total Debt/Equity
0.66
0.19
−−
1.22
0.61
1.42
Interest Coverage
14.50
32.80
−−
5.70
11.30
2.30
Wal−Mart
Costco Wholesale
1
59.23
98.90
−−
52.84
52.15
19.90
2.07
1.66
−−
2.01
1.63
0.82
Annual Sales ($mil.)
Employees
Market Cap ($mil.)
Profitability
Gross Profit Margin
Return on Invested Capital
Valuation
Price/Sales Ratio
Price/Earnings Ratio
Price/Book Ratio
Price/Cash Flow Ratio
Operations
Days of Sales Outstanding
Net Receivables Turnover Flow
Effective Tax Rate
Financial
Current Ratio
Quick Ratio
Per Share Data ($)
Revenue Per Share
Fully Diluted Earnings Per Share
from Total Operations
Target
−−
−− 39,958.5
Kmart 1
Target Industry2 Market3
−− 35.60%
Kmart
Kmart
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
24.12% 48.25%
2
Target Industry Market3
Target Industry2 Market3
Target Industry2 Market3
2
Target Industry Market3
41
Dividends Per Share
0.36
0.00
−−
0.26
0.25
0.43
Cash Flow Per Share
2.93
2.49
−−
3.29
2.49
2.03
(0.56)
1.46
−−
5.14
1.12
2.26
Long−Term Debt Per Share
4.61
2.84
−−
12.07
4.42
11.10
Book Value Per Share
9.74
14.86
−−
11.26
8.84
10.24
Total Assets Per Share
24.22
31.27
−−
34.48
21.14
60.91
Wal−Mart
Costco Wholesale
Kmart 1
4.8%
12.6%
−−
9.7%
12−Month Net Income Growth
12.6%
10.6%
−−
11.3%
1.9% 147.2%
12−Month EPS Growth
14.4%
10.7%
−−
11.1%
1.2% 156.3%
12−Month Dividend Growth
20.0%
−−
−−
8.3%
4.2%
4.9%
36−Month Revenue Growth
10.4%
8.8%
−−
9.4%
5.0%
2.5%
36−Month Net Income Growth
13.6%
6.9%
−−
14.1%
13.9%
(9.3%)
36−Month EPS Growth
14.7%
6.5%
−−
14.0%
16.9% (10.0%)
36−Month Dividend Growth
13.7%
−−
−−
7.5%
Working Capital Per Share
Growth
12−Month Revenue Growth
Target Industry2 Market3
2.3%
8.6%
7.0%
2.2%
1
Data unavailable.
Industry: Discount, Variety Stores
Industry classifications
are from Media General Financial Services, Inc.
.
3 Public companies trading on the New York Stock Exchange, the American Stock Exchange, and the NASDAQ National Market.
2
Data Definitions
Some financial information provided by Media General Financial Services, Inc.
, Richmond, Virginia
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
42
Copyright 2004, Hoover's, Inc.
Report Builder − Wal−Mart Stores, Inc. − Hoover's Online
43